Idera Pharmaceuticals, Inc. (IDRA) Receives Consensus Rating of “Hold” from Analysts

Shares of Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) have been assigned an average rating of “Hold” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $5.75.

A number of equities research analysts have recently issued reports on IDRA shares. Zacks Investment Research upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. ValuEngine upgraded Idera Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub lowered Idera Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $4.00 target price on shares of Idera Pharmaceuticals in a research note on Tuesday, September 12th.

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Idera Pharmaceuticals (IDRA) opened at 2.43 on Friday. The stock has a 50 day moving average price of $2.07 and a 200 day moving average price of $1.97. Idera Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $2.62. The stock’s market cap is $363.60 million.

Idera Pharmaceuticals (NASDAQ:IDRA) last posted its earnings results on Monday, August 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Idera Pharmaceuticals had a negative net margin of 300.63% and a negative return on equity of 61.09%. The company had revenue of $0.19 million during the quarter, compared to analyst estimates of $0.20 million. On average, equities analysts predict that Idera Pharmaceuticals will post ($0.48) earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in Idera Pharmaceuticals by 0.3% in the second quarter. Rhumbline Advisers now owns 118,456 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 312 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Idera Pharmaceuticals by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 343,761 shares of the biotechnology company’s stock valued at $591,000 after purchasing an additional 2,368 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in Idera Pharmaceuticals by 3.0% in the second quarter. Wedbush Securities Inc. now owns 93,428 shares of the biotechnology company’s stock valued at $161,000 after purchasing an additional 2,700 shares during the last quarter. American International Group Inc. boosted its holdings in Idera Pharmaceuticals by 8.2% in the first quarter. American International Group Inc. now owns 55,412 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 4,214 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its holdings in Idera Pharmaceuticals by 7.3% in the first quarter. Nationwide Fund Advisors now owns 62,392 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 4,235 shares during the last quarter. 30.94% of the stock is owned by hedge funds and other institutional investors.

About Idera Pharmaceuticals

Idera Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapeutics for oncology and rare diseases. The Company utilizes two drug discovery technology platforms to design and develop drug candidates, which include Toll-like receptor (TLR) targeting technology and third-generation antisense (3GA) technology.

Analyst Recommendations for Idera Pharmaceuticals (NASDAQ:IDRA)

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